September 17, 2018 – In a 14-minute hearing, parties to the highly contentious Claire’s Stores, Inc. (“the Company”) bankruptcy confirmed that they had reached a settlement pursuant to which junior bondholder Oaktree Capital Management LP (“Oaktree”) will vote in favor of the Plan proposed by the Company and supported by Claire’s senior lenders, led by…

September 14, 2018 – Rex Energy filed with the Court an Amended Chapter 11 Plan of Liquidation and related Disclosure Statement [Docket No. 895]. The changes encompassed in the revised Disclosure Statement and the revised Plan reflect comments received from the Creditors’ Committee and the Ad Hoc Second Lien Group (each as defined in the…

September 12, 2018 – Plaintiff Jonathon Walker (“Plaintiff”) on behalf of himself and a putative class of similarly situated former employees of Product Quest Manufacturing, LLC, Ei, LLC, Scherer Labs International, LLC, Product Quest Logistics, LLC, JBTRS, LLC, and PQ Real Estate LLC (the “Debtors” or “Defendants”) filed with the Court a class action adversary…

September 1, 2018 – Pacific Drilling filed with the Court a First Amended Joint Plan of Reorganization [Docket No. 551] and related Disclosure Statement [Docket No. 552]. The Disclosure Statement notes, “The Restructuring pursuant to the Plan and the related documents provide for the comprehensive recapitalization of the Debtors through the following principal financing transactions…

September 14, 2018 – SWK Funding LLC (“SWK”) filed with the Court an objection [Docket No. 85] to Hooper Holmes’ bid procedures motion [Docket No. 18]. SWK asserts, “SWK has been supportive of a beneficial sale of substantially all of the Debtors’ assets and has committed to provide additional, postpetition financing to allow the Debtors’…

September 14, 2018 – Oaktree Capital Management filed with the Court an objection [Docket No. 989] to the confirmation of the Debtors’ Modified Second Amended Joint Chapter 11 Plan of Reorganization [Docket No. 939]. Oaktree asserts, “On September 10, 2018, the Debtors filed the Current RSA Plan to make purportedly “technical modifications” to the Initially…

August 29, 2018 – The Court hearing the Lockwood International case approved four separate sales, including: (i) that of the Rotterdam assets to Southwest Stainless (the Rotterdam Buyer), (ii) that of the Edmonton real property and equipment to Tin Tara Properties (the Edmonton Buyer), (iii) that of the Sarnia real property to 175177 Canada Inc….

September 14, 2018 – The Court hearing the Toys “R” Us case approved the Taj Debtors’ sale motion [Docket No. 4671] which establishes (i) bidding procedures for the sale of the Debtors’ indirect 84.87% interest in Toys (Labuan) Holding and the related intellectual property (collectively, the “Asia JV” or “assets”), (ii) a timetable for an…

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